- January Methanol ZCE up Yuan83-100/mt- Zhejiang Xingxing MTO restart boosts market sentiment



Chinese methanol futures rose on Sept. 6 in
response to the rise in ethylene glycol futures and purified Terephthalate
futures. Yuan
83-100/mt was the closing price of the January methanol futures contract traded
on the Zhengzhou Commodity Exchange. It closed at Yuan 2,704-3,500/mt on Sept. 6. According to trade sources, ethylene glycol stocks and PTA
stocks were down as producers cut operating rates and tightened regional
supply. Ethylene prices jumped $180-200/mt
between Aug. 25 and $1,000-1,040/mt CFR Northeast Asia on Sept. 6. Market sources also stated that methanol prices are
currently lower than costs. Qinhuangdao's
5,500kcal coal price had reached Yuan 1,340-1.360/mt. However, east China's
methanol prices were discussed at Yuan 2,660-2.665/mt ex tank on Sept. 6. According to other market sources, the...